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trent
05-28-2009, 02:13 PM
Toronto housing market is defying gravity posting marginal declines in sales and price for the first half of May 2009. The number of houses sold in 416 area was 1,734 down from 1,864, while the price for the same period was down less than 1% from $439,459 to $437,205.

Obviously there are still lots of delusional buyers, thinking that interest rates will stay that low forever, and confusing temporary low monthly payments with affordability. Good luck to all future and current bank slaves :p.
bullish
06-07-2009, 12:43 AM
Of course interest rates will stay low until there is a full economic recovery. Meanwhile my house will be twice more expensive compared to what I paid for it, while you will be still complaining how you missed the train and life is unfair :p
trent
06-08-2009, 05:24 PM
Of course interest rates will stay low until there is a full economic recovery. Meanwhile my house will be twice more expensive compared to what I paid for it, while you will be still complaining how you missed the train and life is unfair :p

Sure, cheap money for EVERYBODY FOREVER, that will work :p
bullish
06-10-2009, 01:45 PM
Sure, cheap money for EVERYBODY FOREVER, that will work :p

What's wrong with cheap money? It actually stimulates the economy.
Canadian
06-11-2009, 01:48 PM
What's wrong with cheap money? It actually stimulates the economy.

I'll tell you what's wrong with cheap money - it puts everybody in debt, it devalues the people's savings, and creates giant distortions in the economy (read economic bubbles). Is that enough for you?
bullish
06-12-2009, 01:42 PM
I'll tell you what's wrong with cheap money - it puts everybody in debt, it devalues the people's savings, and creates giant distortions in the economy (read economic bubbles). Is that enough for you?

That's your point of view. I think that it revives the economy, helps people afford more things today instead of waiting for tomorrow, and creates wealth.
Canadian
06-15-2009, 01:22 PM
...helps people afford more things today instead of waiting for tomorrow...

Exactly, it puts people in debt for life, because they buy things they would never otherwise be able to afford unless they use borrowed money.

...creates wealth.

Cheap money and borrowing creating wealth?!? This is a complete nonsense.
trent
06-16-2009, 07:45 PM
Cheap money and borrowing creating wealth?!? This is a complete nonsense.

I don't know why you even bother trying to explain something to this guy. Just let him go down with the rest of the debt junkies :p
Canadian
06-18-2009, 02:36 PM
Actually the mid-June prices are up a little in 416 year-over-year. I don't know what to think anymore :(.
Steven
06-19-2009, 02:54 PM
Actually the mid-June prices are up a little in 416 year-over-year. I don't know what to think anymore :(.

If yoy are expecting a US-style housing crash, I don't think it's going to happen.
Canadian
06-22-2009, 01:43 PM
If yoy are expecting a US-style housing crash, I don't think it's going to happen.

Why? What is so different here, with the exception that the median house price in Canada is much higher than the median house price in US?